6416.0 - Residential Property Price Indexes: Eight Capital Cities, Mar 2020 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 16/06/2020   
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Analysis

Residential Property Price Indexes

RPPI (a)
HPI
ADPI
Dec Qtr 19 to Mar Qtr 20
Dec Qtr 19 to Mar Qtr 20
Dec Qtr 19 to Mar Qtr 20
% change
% change
% change

Weighted average of eight capital cities
1.6
2.0
0.7
Sydney
1.9
2.6
0.8
Melbourne
2.1
2.3
1.5
Brisbane
0.6
1.1
-1.0
Adelaide
0.4
0.4
0.4
Perth
0.6
0.8
-0.5
Hobart
2.4
2.4
2.4
Darwin
0.7
0.8
0.5
Canberra
0.2
1.0
-2.4



(a) See reference to rounding in Explanatory Notes.


Notes

The discussion of individual cities is ordered in terms of their significance to the change in the Residential Property Price Index for the latest quarter. The Residential Property Price Index comprises the House Price Index and the Attached Dwellings Price Index.

Weighted average of the eight capital cities (+1.6%)

Residential Property Price Index
  • rose 1.6% this quarter, following a rise of 3.9% in the December quarter 2019.
  • rose 7.4% over the last twelve months.

House Price Index
  • rose 2.0% this quarter, following a rise of 4.2% in the December quarter 2019.
  • rose 8.1% over the last twelve months.

Attached Dwellings Price Index
  • rose 0.7% this quarter, following a rise of 3.4% in the December quarter 2019.
  • rose 5.8% over the last twelve months.

Sydney (+1.9%)

Residential Property Price Index
  • rose 1.9% this quarter, following a rise of 4.7% in the December quarter 2019.
  • rose 10.0% over the last twelve months.

House Price Index
  • rose 2.6% this quarter, following a rise of 5.2% in the December quarter 2019.
  • price rises were observed across most segments of the market, with price growth most evident in the middle to upper ($1.2m - $3m) market segments.
  • substantial falls in sales transaction numbers were observed across all segments of the market.
  • rose 12.0% over the last twelve months.

Attached Dwellings Price Index
  • rose 0.8% this quarter, following a rise of 3.8% in the December quarter 2019.
  • price rises were driven by the middle to lower ($725,000 and below) segments of the market.
  • substantial falls in sales transaction numbers were observed across most segments of the market.
  • rose 6.5% over the last twelve months.

Melbourne (+2.1%)

Residential Property Price Index
  • rose 2.1% this quarter, following a rise of 5.2% in the December quarter 2019.
  • rose 10.4% over the last twelve months.

House Price Index
  • rose 2.3% this quarter, following a rise of 5.5% in the December quarter 2019.
  • price rises were observed across most segments of the market, with price growth most evident in the middle to upper ($830,000 and above) market segments.
  • substantial falls in sales transaction numbers were observed across all segments of the market.
  • rose 10.8% over the last twelve months.
Attached Dwellings Price Index
  • rose 1.5% this quarter, following a rise of 4.3% in the December quarter 2019.
  • price rises were observed across most market segments, with price growth most evident in the middle to upper ($570,000 and above) segments of the market.
  • substantial falls in sales transaction numbers were observed across most segments of the market.
  • rose 9.3% over the last twelve months.
Brisbane (+0.6%)

Residential Property Price Index
  • rose 0.6% this quarter, following a rise of 1.8% in the December quarter 2019.
  • rose 2.5% over the last twelve months.

House Price Index
  • rose 1.1% this quarter.
  • rose 3.1% over the last twelve months.

Attached Dwellings Price Index
  • fell 1.0% this quarter.
  • rose 0.1% over the last twelve months.

Perth (+0.6%)

Residential Property Price Index
  • rose 0.6% this quarter, following a rise of 1.1% in the December quarter 2019.
  • fell 0.9% over the last twelve months.

House Price Index
  • rose 0.8% this quarter.
  • fell 0.6% over the last twelve months.

Attached Dwellings Price Index
  • fell 0.5% this quarter.
  • fell 2.2% over the last twelve months.

Hobart (+2.4%)

Residential Property Price Index
  • rose 2.4% this quarter, following a rise of 2.7% in the December quarter 2019.
  • rose 7.0% over the last twelve months.

House Price Index
  • rose 2.4% this quarter.
  • rose 7.0% over the last twelve months.

Attached Dwellings Price Index
  • rose 2.4% this quarter.
  • rose 7.0% over the last twelve months.

Adelaide (+0.4%)

Residential Property Price Index
  • rose 0.4% this quarter, following a rise of 1.4% in the December quarter 2019.
  • rose 0.9% over the last twelve months.

House Price Index
  • rose 0.4% this quarter.
  • rose 1.0% over the last twelve months.

Attached Dwellings Price Index
  • rose 0.4% this quarter.
  • rose 0.6% over the last twelve months.

Canberra (+0.2%)

Residential Property Price Index
  • rose 0.2% this quarter, following a rise of 3.1% in the December quarter 2019.
  • rose 3.0% over the last twelve months.

House Price Index
  • rose 1.0% this quarter.
  • rose 3.5% over the last twelve months.

Attached Dwellings Price Index
  • fell 2.4% this quarter.
  • rose 1.4% over the last twelve months.

Darwin (+0.7%)

Residential Property Price Index
  • rose 0.7% this quarter, following a fall of 0.8% in the December quarter 2019.
  • fell 3.1% over the last twelve months.

House Price Index
  • rose 0.8% this quarter.
  • fell 2.1% over the last twelve months.

Attached Dwellings Price Index
  • rose 0.5% this quarter.
  • fell 5.3% over the last twelve months.


Total value of the dwelling stock


Graph Image for Total Value of Dwelling Stock

  • The preliminary estimate of the total value of residential dwellings in Australia this quarter was $7,237.1 billion, up from $7,095.5 billion in the December quarter 2019. Of the total value of residential dwellings, $6,911.7 billion was owned by households.
  • The number of residential dwellings rose by 43,700 to 10,485,700 and the mean price of residential dwellings rose $10,700 to $690,200 this quarter.

Graph Image for Mean Dwelling Price, States and Territories, March Quarter 2020

  • The mean price of residential dwellings in New South Wales ($890,400) remains the highest in the country, followed by Victoria ($754,600) and then the Australian Capital Territory ($701,000). The lowest mean price is in the Northern Territory ($413,200).